Research indicates that investment in IT leads to improved innovation outcomes. For the purposes of this short discussion, there are three components of innovation:
- the intensity of research & development
- acknowledged Intellectual Property of the firm (patents)
- the value of intangible assets
Further, it has been found that four of the top five reasons for investment in information technology among Fortune 500 companies are related to:
- intangible assets
- innovation activities
- exploration activities
Thus IT is associated with the finding new areas of growth, for exploring perhaps unchartered territory. IT is central to innovation. A focus on IT improves the value of the firm by expanding the intangible asset base.
So, are you using information technology to:
- develop new products?
- analyse current and new markets”
- expand your theoretical knowledge about your products and services?
- understand how you can do what you do in a better way?
For more, visit Dellium Advisory, follow on Twitter, connect using LinkedIn, or review my strategy and futures-centric blog.
Advertisements
Leave a Reply